Bitcoin Surpasses $100K, Becoming Seventh Most Valuable Asset Globally
A dream is a wish your heart makes unless that dream is bitcoin surpassing $100k, which occurred recently.
With the $100k milestone reached, bitcoin ranks as the “seventh most valuable asset in the world by market cap,” trailing behind Google and Amazon, according to GSR’s Brian Rudick.
Bitcoin's price has nearly doubled since November to hit $100k. This rise faced challenges, but experts highlight strong global interest in bitcoin from both corporate balance sheets and ETF inflows. Galaxy’s Chris Rhine noted that the unique market structure could lead to rapid price increases, suggesting crypto returns may outperform other risk assets.
Ledn’s John Glover discussed price targets, indicating that if bitcoin can gain momentum to exceed $125k, it could reach a high of $160,000. However, maintaining around $100k suggests $125,000 is a critical threshold.
For humor, consider this 2019 tweet from Peter Schiff:
Keep dreaming. Bitcoin is never going to hit $100,000!
— Peter Schiff (@PeterSchiff) November 8, 2019
Shifting focus, K33’s Vetle Lunde noted potential buying opportunities during December dips. He stated that adverse reactions to employment data or unchanged interest rates might be good for aggressive buying, with expectations for bitcoin to remain strong.
Lunde predicted bitcoin would reach “well into the $100,000’s.” He indicated a peak could occur next month, aligning with technical analysis insights, particularly the Elliott Wave Theory. He pointed out that past cycles suggest an average peak occurs approximately 318 days after previous all-time highs, potentially leading to a peak around January 17, coinciding with Trump’s inauguration on January 20.
Currently, bitcoin maintains its position above $100k, allowing investors to appreciate this significant valuation.